Boxlight Corporation (Nasdaq: BOXL), a provider of interactive technology solutions for the global education market, announced the initial closing of a private placement financing of up to $7.5 million through the issuance of newly designated Series D Convertible Preferred Stock.
At the initial closing, the Company received gross proceeds of approximately $5.5 million, with an additional $2.0 million expected to be funded upon the effectiveness of a resale registration statement and satisfaction of other applicable conditions. The private placement provides for the issuance of an aggregate of 937,500 shares of Series D Convertible Preferred Stock at a purchase price of $8.00 per share and a stated value of $10.00 per share.
RBW Capital Partners LLC acted as placement agent in connection with the private placement, with the securities offered through Dawson James Securities, Inc.
Lucosky Brookman LLP served as legal counsel to Boxlight Corporation in connection with the transactions.
